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Extension Period "), as set forth in the table below (the "Table "). In order to exercise the first Extension Option (i.e., for the period from December 27, 2010, through January 31, 2011), on or before close of business on December 27, 2010, Optionee shall (i) notify Escrow Holder and Owner that Optionee elects to exercise the first Extension Option, (ii) instruct Escrow Holder to release to Owner the Initial Deposit, and (iii) deposit into Escrow for immediate release to Owner the Additional Deposits in the amount set forth in the Table that corresponds to the first Extension Period. In order to exercise the second (and each subsequent) Extension Option, Optionee shall (x) notify Escrow Holder and Owner on or before the commencement of the applicable Extension Period that Optionee elects to exercise the Extension Option corresponding to such Extension Period and (y) deposit into Escrow for immediate release to Owner the Applicable Deposit or the Non - Applicable Deposit, as the case may be, that corresponds to each such Extension Period, in accordance with the Table below: Extension Period Applicable Deposit Non - Applicable Total Deposits Deposit 12/27/2010 through $63,000 (comprised of $31,500 $94,500 1/31/2011 the Initial Deposit of $48,000, plus an Additional Deposit of $15,000) 2/1/2011 through $0.00 $23,625 $23,625 2/28/2011 3/1/2011 through $0.00 $23,625 $23,625 3/31/2011 4/1/2011 through $0.00 $23,625 $23,625 4/30/2011 5/1/2011 through $0.00 $23,625 $23,625 5/31/2011 6/1/2011 through $23,625 $0.00 $23,625 6/30/2011 7/1/2011 through $23,625 $0.00 $23,625 7/31/2011 8/1/2011 through $23,625 $0.00 $23,625 8/31/2011 9/1/2011 through $23,625 $0.00 $23,625 9/30/2011 10/1/2011 through $23,625 $0.00 $23,625 Option Agreement 20 Chemical 10.05. 2010 v.5 4